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One Direction are set to be named the richest boyband in the world (Picture: PA)

One Direction are not only the biggest boyband in the world, they’re also the richest as their wealth has been estimated as a whopping £25million.

The fivesome – Harry Styles, 19, Liam Payne, 19, Louis Tomlinson, 21, Zayn Malik, 20, and Niall Horan, 19 – are set to be named the richest boyband in the world in the Sunday Times Rich list next month.

Since forming in 2010 on The X Factor, each of the lads is now worth a staggering £5million.

They will appear in the music millionaires aged under 30 list alongside the likes of Adele, Cheryl Cole, Leona Lewis and Joss Stone.

One Direction were put together on Simon Cowell’s ITV reality show after originally auditioning as five solo singers.

The boys are currently on their world tour (Picture: Splash)

They finished in third place and went on to top the charts in 16 countries with their two successful albums Up All Night and Take Me Home.

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The boys’ fortune doesn’t just come from their music though as they also have merchandise to their name.

In addition to the string of awards they’ve collected in the last two years, they became the first act in two decades to have two of the year’s top-selling albums.

But as if that wasn’t enough, the lads’ Comic Relief single One Way Or Another (Teenage Kicks) hit the top spot in 60 countries.

The annual Sunday Times Rich List, which celebrates its 25th anniversary this year, is out in April.